The Nairobi Securities Exchange (NSE), has extended the suspension of Nairobi Business Venture from its trading list.
According to a statement released to the newsroom on Monday 16th November 2020, NSE said that the extension was to allow for a business restructuring of the manufacturing firm that includes a share split, allotment, and issuance of shares to Delta International, and a subscription agreement by the Dubai based entity.
Nairobi Business Ventures is currently listed on the Growth and Enterprise Segment of the NSE, under the commercial and services sector. The firm remains suspended from the NSE bourse until 30th November 2020.
Other firms that remain suspended from the NSE include Athi River Mining, Kenya Airways, National Bank of Kenya, and Mumias Sugar Company.
NBV currently is involved in the sale of imported leather accessories and products branded as K shoes, “Kwanza Shoes.”
At the time of suspension of the company’s shares from the bourse, Nairobi Business Ventures was trading at Kshs 0.71 with a market capitalization of Kshs 27.6 million and 38,600,000 shares on offer.